BUSINESS
India's Manufacturing Sector Set to Surge: Projected $1.66 Trillion Market by FY34, GDP Share to Reach 21%
These projections estimate that the share of manufacturing in GDP increased from 14% in FY 24 to around 21% in FY34. According to DSP Mutual Fund, this increase can be attributed to lowered logistics costs and infrastructure development. On the optimistic side, investments in infrastructure are likely to rise from 33 percent of GDP in FY24 to 36 percent by FY29, which may trigger the broader economic benefits.
Interest rates not impeding growth, monetary policy to focus on lowering inflation, says Reserve Bank Governor Shaktikanta Das
The Governor further told an event organized by the Bombay Chamber of Commerce and Industry that the country is standing at the threshold of a structural shift in its growth trajectory and can easily sustain an 8 per cent real GDP growth once that happens annually.
Sensex and Nifty Reach Record Peaks
At 1:35 pm, the 30-share BSE Sensex surged by 541.25 points to an all-time high of 77,882.33. The Nifty gained 130.8 points to a record 23,668.65 during the same time.
Adani Ports Recognized Among Top Asia Pacific Companies, Sole Indian Entity in Transport Sector
The company did well across various parameters of the Investor Relations (IR) Programme, ESG Programme, IR Team, and IR Professionals (on the basis of ratings by both buy-side and sell-side participants). Ashwani Gupta, CEO and Whole-time Director of APSEZ, attributed the same to the robust Investor Engagement and ESG efforts that the company has undertaken. He said, "This win only goes to prove that our team's commitment towards 'Service to Stakeholders,' topnotch in every sense. I thank the investor fraternity for keeping faith in us and for this recognition.".
Introducing OnePlus Nord CE 4 Lite 5G: Unveiling the 50MP Camera Marvel in India
There are three color options available: Super Silver, Mega Blue, and Ultra Orange. This model provides two variants: one variant with 8GB RAM and 128GB storage at Rs 19,999 and another variant with 8GB RAM and 256GB storage priced at Rs 22,999.
India's Current Account Deficit Shrinks to 0.7% of GDP Amid Strengthening Economy
The falling CAD mirrors an improving set of fundamentals for India, with the country closing out the financial year to March 31 by adding $63.7 billion to its foreign exchange reserves.
India's Ascendance on the Global Stage: Gautam Adani
"The macroeconomic stability of India and its ambitious growth plans are sources of great confidence to us," Gautam Adani said, referring to an increased allotment of over Rs 11 lakh crore for infrastructure development by the Union government, up 16 per cent compared with the fiscal. He said that this has gone up more than three times in the last five years alone, proving the commitment of the country toward better infrastructure.
NRIs Demonstrate Growing Confidence in Indian Economy with $1 Billion Deposited in April
This was a good jump from the $150 million that overseas Indians deposited in the same month last year, underlining their increasing faith in India's economic prospects on the back of an unmistakable upward trend. This is reshaping the growth trajectory of India, above the average of 7% witnessed from 2003-2019 to one of 8% plus from 2021-2024.
Massive Auction: Government Offers 67 Coal Mines Across 8 States"
To develop the coal sector for attaining national energy requirements, a series of reform measures have been undertaken by the Ministry. All mines falling within protected areas, wildlife sanctuaries and critical habitats, areas with over 40% forest cover, or heavily urbanized zones have been kept out in this tranche. Further, reserves of some coal mines located in densely populated areas, areas having more green cover, or falling under the zone of critical infrastructure have been modified to make it more attractive for auctioning.
State Bank of India Distributes Rs 6,959 Crore Dividend to Government
In an official statement issued by the Ministry of Finance, "@nsitharaman receives a dividend cheque of Rs 6,959.29 crore for FY 2023-24 from @TheOfficialSBI Chairman Shri Dinesh Kumar Khara."
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